AMC Is Renting Out Its Theaters For Private Showings Starting At $99

Lawrence Kim
October 19, 2020

AMC has reopened about 500 of its 600 theaters across the country, but last week its owners said the company could run out of cash by the end of the year if it doesn't get relief.

AMC's website says that you're allowed to bring in outside food if you pay a catering fee of $250, though you can't bring in any items that they already sell or items that need a heating element.

The promotion is available in most states, excluding New York, Alaska, and Hawaii.

AMC's revenues fell by $941.5 million, down roughly 22 percent compared with $1.2 billion in the same quarter a year ago, according to a Security and Exchange Commission filing in June.

The company blames these losses on having shut its theaters to mitigate the spread of the virus.

"In compliance with these restrictions, all of our theatres worldwide have temporarily suspended operations through June", the company said in the filing earlier this year. "During this period, we are generating effectively no revenue".

On Saturday, New York Gov. Andrew Cuomo announced that movie theaters outside of New York City could reopen with limited capacity starting October 23.

Cineworld, the world's second-biggest cinema operator, said earlier this month it would close all its screens in the United States and Britain after studios delayed major releases including the latest James Bond film.

The number of viewers using streaming services has increased significantly since stay-at-home orders began last spring, with streaming activity up 60 per cent, according to a Nielsen report.

The move comes as the US movie theater industry continues to take a financial hit due to COVID-19 health regulations that have forced theaters to either close or allow only limited capacity.

Other reports by Click Lancashire

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